Lighthouse renews contract with British Airways Clubs

National firm Lighthouse has renewed its contract to provide financial advice to British Airways Clubs for another three years.

The deal will see Lighthouse advisers provide retirement planning as well as mortgage and investment advice to the 40,000 current and former British Airways staff who are members of the employee benefits clubs.

Malcolm Streatfield, chief executive of Lighthouse, said: "The board is delighted that we have secured this contract renewal with BA Clubs, which endorses further the high quality financial advice that Lighthouse Financial Advice provides to all participating members within our affinity group partners.

"We look forward to continuing to assist members of BA Clubs with their financial planning requirements over the years ahead. The board remains committed to developing further our affinity partnerships throughout the UK."

Lighthouse has affinity contracts with a number of employee organisations, including Prospect, Unison, Usdaw and the Royal College of Nursing.

In its interim results for the six months to the end of June Lighthouse saw the revenues generated from these partnerships increase by 20 per cent to £5.13m, making up about a fifth of its total revenues of £26.8m.

Chris Byron, chairman of BA Clubs, said: "We are very pleased to have secured this contract renewal with Lighthouse, which will enable us to continue to facilitate professional financial planning assistance for our members.

"We look forward to continuing to strengthen our relationship with Lighthouse and ensuring that our members are able to secure robust and consistent financial advice, catering for a wide range of financial planning requirements."